Obopay mobile banking and payment provider has promoted President Deepak Chandnani to CEO to focus on the company’s growth in size and geographic scope. Appointed President in May of 2010 he doubled the company’s year-over-year revenue through growth in business across US, parts of Africa and India. While sustaining the focus of the Company in its home market, the United States, Deepak has spearheaded Obopay’s expansion into North and East Africa as well as positioned the Company for expansion into parts of Europe. Throughout his time as President, he has overseen Nokia, Union Bank of India, Yes Bank, Societe General, Essar, MasterCard, FIS Global and the STAR network partnerships. He was previously the CEO of Wire and Wireless in India and before that served as the Managing Director for NCR in India while his education includes an MBA from the Indian Institute of Management, Ahmedabad (IIM- A).
A new report released by Aite details the ongoing challenges faced by
credit card issuers such as new customer
acquisition, card activation, and customer retention and card usage.
The report is based on interviews with 12 of the top 100 U.S. credit card
issuers and examines issuers’ attitudes toward their vendors, including card
networks and processors. Credit card issuers are going through their
most turbulent times since
the introduction of credit cards. Potential new legislation and
regulation threatens to reshape their business model, and issuers are
facing rising charge-offs and a continued assault from merchants
lobbying to cap or reduce interchange rates.
NFC platform provider ViVOtech has named Don Kingsborough, CEO and founder of Blackhawk
Network, to its Board of Directors. Kingsborough founded Blackhawk Network in 2001. Since that time,
he has established Blackhawk Network as the definitive leader in sales of
third-party prepaid card products. Prior to establishing Blackhawk Network, he
founded and served as chief executive officer of toy manufacturer Worlds
of Wonder, Inc., where he created a multi-million-dollar new industry category and
propelled this start-up business to one of the nationâs fastest growing companies
in just two years achieving more than $320 million revenue in the companyâs second year.
ViVOtech NFC mobile and contactless infrastructure software technologies
span across the entire mobile payment ecosystem, from banks, merchants,
mobile operators and service providers to their customers.
More than a million Catholics in the USA are being solicited this week for a new VISA card that benefits Catholic Church programs in more than 1,150 mission dioceses in the world’s poorest countries. The new “World Missions VISA” represents the joint efforts of Washington Mutual and Follieri Capital. A direct-mail campaign and print ad campaign in Catholic newspapers has been launched. One percent of card purchases are donated to the Society for the Propagation of the Faith. WaMu says the new card offers full “Platinum VISA” benefits, free on-line “FICO” credit-score access, money saving coupons, online bill payment, zero fraud liability and no annual fee. Follieri Capital provides financial products and services to Roman Catholic Church organizations in the USA.
Trintech yesterday announced the addition of industry leaders Edmund P. Jensen, former president and CEO at Visa International, Magdalena Yesil, a high-tech venture capitalist in Silicon Valley and a founder of CyberCash, and Robert Schneider, CEO of SCM Microsystems, to its Advisory Board.
Trintech created the Advisory Board earlier this year to assess market changes and add payment industry heavyweights to help define the company’s future.
“We are fortunate to have the knowledge and experience of our three new Advisory Board members in helping shape the vision of Trintech,” said John McGuire, co-founder and CEO of Trintech.
“It is crucial for Trintech to leverage their invaluable market insight and know-how to compete in today’s market. Ed, Magdalena and Robert also bring with them a wealth of management experience and proven track records.”
Edmund P. Jensen has more than 25 years of experience in the financial and payment card sector. He served as president and CEO of Visa International from 1994 to 1999 and now works with several venture capital firms and as an advisor for several high-tech companies in Silicon Valley.
Prior to his tenure at Visa International, Jensen held the posts of vice chairman and chief operating officer at US Bancorp, where he worked for two decades. Jensen graduated with a Bachelor’s degree in finance from the University of Washington.
“There is great synergy with Trintech’s Internet payment strategy and my experience at Visa International and US Bancorp,” said Jensen. “I’m excited about being a part of Trintech’s future.”
Magdalena Yesil, a high-tech venture capitalist in Silicon Valley, is a world recognized expert in e-commerce and Internet security. She has been instrumental in developing the current Internet payment transaction paradigm as a founder of CyberCash and, later, MarketPay, a transaction aggregation engine that separated the financial transaction from the payment.
For her work in the payment space, she was named Entrepreneur of the Year by Red Herring Magazine in 1997. In the early 1990s, Yesil played a significant role in developing and evangelizing UUnet. Yesil holds a Master’s degree in electrical engineering and a Bachelor’s degree in industrial engineering, both from Stanford University.
“The stakes are high in the Internet payment processing market,” said Yesil. “My experience in the electronic payments industry and Trintech’s Internet vision makes a great fit for embracing e-commerce transaction processing.”
Robert Schneider founded SCM Microsystems, Inc. (Nasdaq:SCMM), a provider of smart-card reader and digital TV security products and technologies, in 1990 and is a world expert on smart-card systems.
Schneider today serves as CEO of SCM Microsystems. Schneider also serves as chairman of the board and managing director of SCM Microsystems GmbH, a German subsidiary of SCM Microsystems, Inc. Schneider earned a degree in Engineering from HTBL. SCM Microsystems is dual listed on the Nasdaq and the German Neuer Markt.
“I am very much looking forward to actively participating as an Advisory Board member at Trintech,” said Schneider. “As card payments move from magnetic stripe to chip and remote devices like set-top boxes proliferate, companies like Trintech and SCM can benefit from our mutual expertise.”
Founded in 1987, Trintech is a leading provider of secure electronic payment solutions for card-based transactions in the physical world and over the Internet. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL- and SET-compliant. Trintech’s range of scalable open systems architecture solutions for UNIX(R) and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for physical payments and the burgeoning world of electronic commerce. Trintech can be contacted at 2105 South Bascom Avenue, Campbell, CA 95008, USA (Tel: 408/879-1884). Trintech can be reached on the Web at [http://www.trintech.com].